Intel (INTC) shares plunging nearly 30% after the enterprise announced a significant cost reduction plan and reported weaker than expected earnings.
The enterprise was already the smallest component of the Dow Jones Industrial Index (^DJI), which is weighted by price. And Friday’s move in the stock is raising the question whether the enterprise could get removed from the blue-chip index.
But Barron’s Senior industry study Writer Paul La Monica suggests it might not happen right away. “It wouldn’t surprise me if sometime in 2025 there is a decision to be made,” he said about whether Intel gets removed.
And as for who could replace Intel, he went on to say “There are a lot of other chip companies that are better barometers of the sector.” Some of the names he mentioned were Qualcomm (QCOM), Broadcom (AVGO) and, of course, Nvidia (NVDA). La Monica saying recent stock splits from Nvidia and Broadcom could help their case.
#youtube #bigtech #computer
About Yahoo financial:
Yahoo financial provides free stock ticker data, up-to-date news, collection of investments management resources, comprehensive industry data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at financial.yahoo.com
– Download the Yahoo financial app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo financial on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/enterprise/yahoo-financial
Disclaimer:
If you own the YouTube channel related to this video and do not want it to be featured here, you can contact us through our contact page. We will gladly remove it without questioning your reason